Beijing's new policies to hold and attract overseas talents will take effect on March 1 and include a preferential measure to lure top professionals from Hong Kong and Macao.

Talents from these two special administrative regions in China are considered to be among the most valuable resources to help drive innovation and development in the capital city.

The policy approved by the Ministry of Public Security allows talents from the two regions to apply for Beijing hukou, the local residency permit that entitles holders to social services.

Children under the age of 18 and spouses of qualified professionals will also be eligible for permanent status and a Beijing hukou.

Beijing's Zhongguancun Science Park, a high-tech hub in the capital, will pilot the policies first.

Other measures designed to benefit overseas professionals in Beijing include financial guarantees and residence permits for their overseas housekeepers.

The ministry stipulates that immigration officers must respond to applications for permanent residence from high-end foreign professionals within 50 working days after an application is submitted. The current review requirement is 180 days.